What steps can businesses take to show they have a social conscience? 

Today’s consumers are surrounded by an abundance of goods and services which would have been unimaginable a few decades ago. 

With such variety and choice, customers pay attention not only to the quality and price of items but also to the ethical values of the company providing them. This means having a social conscience will benefit businesses and allow them to broaden their customer base. 

But what does social conscience mean? 

Broadly speaking, to be socially conscious means being deeply aware of the people around you in society.  

It requires a clear understanding of the mutual impact every person has on each other and their surroundings.  

Some of the actions a company can take to show a social conscience are paying their employees well and treating them fairly, creating affordable products that delight their customers and providing additional valuable services to the society for free. 

The first step towards developing your social conscience is to identify the company’s values and mission. The idea of corporate social responsibility is to improve your local community, the economy, the environment or any other social cause. There is no specific set of standards, it’s up to each company to determine its goals and values. 

Johnson&Johson, the well-known pharmacy company, has chosen to focus on the environment for its social conscience. The company is focused on reducing its impact on the planet, providing safe water to communities around the world and using wind power, with the target of switching fully to renewable energy by 2025.  

While using renewable energy may be an ambitious step for a small business, there still are options to benefit the environment, for instance, by considering recycling. 

Coca-Cola’s sustainable focus is on “a world without waste”. The company aims to make its packaging fully recyclable and ensure water security by replacing all water used in the drinks’ production back to the environment.  

Small businesses can benefit society by providing fair working conditions for employees, including payment and benefits. This approach not only shows their concern and support for the local community but also helps them gain their employees’ support. 

Netflix is concerned about its employees’ working conditions. It offers 52 weeks of paid parental leave to both birth and non-birth parents, which is greater than the average at other tech companies. Moreover, Netflix shows support over its social media for movements such as Pride month, environmental sustainability and Black Lives Matter. 

Starbucks focuses on diversifying its workforce and tackling racial and social equity. The company launched a mentorship programme to connect black, indigenous, and people of colour to senior leaders and invest in partnerships. The company also provides employment opportunities through apprenticeships and refugee-hiring programmes.  

Wells Fargo chose another approach by focusing on philanthropic donations. They provide grants to non-profit organisations which match their priorities namely financial health, housing affordability, small business growth, sustainability and environmental justice. The bank’s goal is to “make a positive impact in communities, address complex societal issues, and help build a more inclusive, sustainable future for all”, according to its website, so it donates to organisations such as foodbanks and plant and renewable energy incubators. 

Some startups and small businesses may feel unable to provide financial resources for donations, but, regardless of the company’s finances, there are options to support charities by other means such as donating your time and workforce or offering your own goods and services for free. 

TOMS shoe company not only donates a part of its profit to various charities but also, in collaboration with Save the Children, donates a pair of shoes for every pair that is purchased. Build-A-Bear encourages its employees to give back to their communities by offering paid time off for them to participate in volunteering initiatives. 

Social conscience is growing in importance for businesses, with the potential to give them a competitive edge. Getting more involved in your community feeds into your marketing strategy and attracts customers, employees and investors. It is mutually beneficial for companies and communities because, by giving something to your community, it is increasingly likely to bring business benefits.